Unit 13Auditing
Unit 13 Auditing
An audit is an exercise whose objective is toenable auditors to express an opinion whetherthe financial statements are prepared, in allmaterial respects,inaccordancewithanidentified financial reporting framework.Audit provides high, but not absolute level ofassurance,expressed intheauditreportasreasonable assurance.Reasonable assurance is nota guarantee ofcorrectness, but an assurance of truth andfairness within a reasonable margin of error.2
2 ⚫ An audit is an exercise whose objective is to enable auditors to express an opinion whether the financial statements are prepared, in all material respects, in accordance with an identified financial reporting framework. ⚫ Audit provides high, but not absolute level of assurance, expressed in the audit report as reasonable assurance. ⚫ Reasonable assurance is not a guarantee of correctness, but an assurance of truth and fairness within a reasonable margin of error
ContentI : Auditing Standard and Professional EthicsII. Types of AuditingII. Auditing ProceduresIV. Audit ReportV . Types of Audit ReportVI. A sample of audit report (CSAC)
3 Content ⚫Ⅰ. Auditing Standard and Professional Ethics ⚫Ⅱ. Types of Auditing ⚫Ⅲ. Auditing Procedures ⚫Ⅳ. Audit Report ⚫Ⅴ. Types of Audit Report ⚫Ⅵ. A sample of audit report (CSAC)
I . Auditing Standard and Professional EthicsReportingGeneralFieldworkStandardsStandardsStandards1.Auditing Standard
4 General Standards Fieldwork Standards Reporting Standards 1.Auditing Standard Ⅰ. Auditing Standard and Professional Ethics
General Standards1.The auditor must have adequate technicaltraining and proficiency to perform the audit.2.The auditor must maintain independencein mental attitude in all matters related to theaudit.3.The auditor must use due professionalcare during the performance of the auditand the preparation of the report.5
5 General Standards 1.The auditor must have adequate technical training and proficiency to perform the audit. 2.The auditor must maintain independence in mental attitude in all matters related to the audit. 3.The auditor must use due professional care during the performance of the audit and the preparation of the report